As the demand for innovative ways to lose weight grows, weight loss clinics have seen an increase in the complexity of finding medical malpractice insurance. Many clinics that are offering telemedicine with multi-state exposure using new treatments like semaglutide, compounded semaglutide, tirzepitide, and Wegovy are getting denied by underwriters, making it difficult to find adequate insurance coverage.

Celebrities such as Oprah Winfrey publicly acknowledging their use of weight loss medications like Wegovy, Ozempic, or Mounjara, have significantly contributed to the surge in demand for innovative weight loss solutions. As high-profile individuals share their success stories with the public, there is a heightened interest in exploring alternative treatments, leading to an increased number of individuals seeking assistance from weight loss clinics and increased demand for weight loss medical malpractice insurance solutions. 

The Importance of Malpractice Insurance for Weight Loss Practices

Weight loss malpractice insurance is coverage that is specifically tailored for physicians and establishments that provide either medical or non-medical weight loss support, or both. It covers the cost of any claims filed against a doctor or the practice by patients who were allegedly injured. Practices that don’t have enough or a policy with the proper structure may end up partially or wholly financially responsible for any claims made against them.

New Challenges for Practices Needing Coverage

If your practice offers weight loss solutions, you may have a harder time getting a policy that fits your needs. Coverage purchased online is usually automated and often doesn't have the level of customization and flexibility that today's practitioners need. Some policies contain exclusions for specific BMI indexes which can change as the patient loses weight. Other policies may contain exclusions for medications to only use name-brand medications for the FDA-cleared purpose. Clinics benefit greatly from a comprehensive review of their options before committing to a policy.

Types of Malpractice Insurance to Consider

There are several types of medical malpractice insurance that weight loss clinics should consider including but not limited to:

Occurrence Based Coverage

Occurrence-made insurance covers your weight loss clinic from any claims made for incidents that occurred while your policy was active. So, even if you had already switched to Company B when the claim was filed, Company A would still cover the damages so long as you were insured by them on the date of the event. 

Claims-Made Based Coverage

Claims-made malpractice insurance covers practitioners who were insured at the time of the incident by the same company that insured them when the plaintiff filed the claim in court.

For example, if your weight loss clinic is insured by Company A when a patient is allegedly injured but has switched to Company B by the time the patient files a claim, the damages would not be covered. But if you are still insured by Company A when the patient files, you will be covered. 

Claims-made coverage needs to be handled correctly as it is not a "Purchase and Forget" type of policy. You will need to manage your records and make sure you purchase tail or have a new carrier pick up the coverage from the previous carrier.

Malpractice Tail Insurance

Tail coverage is important to have with a claims-made policy. This coverage protects practitioners from claims filed in the future after the policy ends. Without tail insurance, your weight loss clinic could be liable for damages that happened after your policy expired.

General Liability Insurance

General liability insurance is also important for weight loss practices to have. This protects you from slip and fall accidents that may occur on your premises, injuries caused by products your clinic sells, and false advertising claims. 

Get Affordable Coverage with MedMal Advisors Today

At MedMal Advisors, we understand the importance of obtaining affordable, reliable coverage for weight loss practices and individual practitioners, especially for telemedicine providers and as new products and services hit the market. We can help you explore and compare different insurance plans to find the right fit, so you can treat patients confidently knowing you’re protected if anything goes wrong.

Contact us today to learn more or to get a customized quote for an insurance plan by calling (281) 454-3003 or filling out our short online form, and we’ll reach out to you as soon as we can to answer your important questions about weight loss malpractice insurance.